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Campbell Soup Reports on Q2


On March 10th Campbell Soup Company (CPB) reported on the second quarter of Fiscal 2021 ending January 31st.  For the period, net earnings were $245 million on sales of $2,279 million with an EPS of $0.81.  For the pre-COVID second quarter of Fiscal 2020 ending January 26th, Campbell Soup Company earned $1,208 million on net sales of $2,162 million.  Q2 FY2020 earnings benefitted through proceeds from discontinued operations amounting to $1,037 million.  Of the Q2 FY 2021 revenue, 57 percent was derived from the Meals and Beverages Segment and the remainder from the Snacks Segment.  Meals and Beverages contributed 64 percent of operating earnings, with 36 percent from the Snacks Segment.


On January 31st, 2021 Campbell Soup Company posted total assets of $12.498 billion with long- term debt of $4.996 billion.


In commenting on results Mark Clouse, President and CEO, stated “We delivered another quarter of strong results with top-line growth in both segments-partly tempered by food service and supply constraints caused by COVID-19.” Clouse added, “In addition, nearly 75 percent of our brands grew or held shares, which was an important goal for the quarter.”  Campbell Soup Company provided guidance of a decline in net sales for FY2021 of 2.5 to 3.5 percent and an adjusted EPS of $3.03 to $3.11 representing a three percent to five percent increase over FY2020. 


Campbell Soup Company has a market capitalization of $14.5 billion and has traded over the past 52 weeks in a range of $40.70 to $57.54 with a 50-day moving average of $47.03.  CPB trades with a forward P/E of 15.5.  Trailing 12-month operating margin was 15.4 percent and profit margin 20.0 percent.  The return on assets was 6.7 percent and on equity, 36.4 percent.